Gilts take their cue from Bunds and push higher, as the recent risk-on bid fades after Spanish Prime Minister Mariano Rajoy dismisses speculation that the country will ask for official aid in the very near future. The December gilt contract opens around 0.30 higher at 120.75 and the yield on the 10-year cash falls nearly 3bps to 1.687%. UK services PMI data for September are released at 0828 GMT, with the headline index expected to fall to 53.0 from 53.7, according to Barclays, unwinding some of the increase seen in August.
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